- Beyoncé Takes Over Management of Ivy Park Clothing
American pop singer Beyoncé has taken over management of Ivy Park clothing line established about two years ago in a fifty-fifty partnership agreement with Arcadia Group owned by Sir Philip Green, who was accused of sexual harassment in October.
In a statement released by Ivy Park: “After discussions of almost a year, (Beyoncé’s) Parkwood has acquired 100 percent of the Ivy Park brand.”
Although the financial details of the deal were not disclosed, Green’s Topshop will fulfill existing orders to Ivy Park.
Philip Green, a British retail tycoon, was last month mentioned in parliament for taken legal action to block publication of allegations of sexual harassment and racial abuse of staff.
However, Green denied having broken the law, saying his businesses fully investigated employee grievances.
Beyoncé certainly understands the importance of aligning with the right people. Two years ago, on the heels of successful collaborations with celebrities including Kate Moss and a slew of British designers—Marques’Almeida, Preen, and Mary Katrantzou just to name a few—Topshop made for an ideal partner. However, with Green’s misconduct now front and center in the #MeToo spotlight, a fresh start feels necessary. Indeed, Ivy Park’s next chapter is poised to be bigger, better, and more aligned with the interests of its customers.